Reposted from BetaKit | Toronto-based MolecuLight, which develops fluorescence-guided imaging for visualizing bacteria of chronic wounds, has received a $7.5 million USD loan from Oxford Finance. Oxford Finance provides senior debt to life sciences and healthcare services companies, and has originated over $5 billion in loans, with lines of credit ranging from $5 million to [...]Continue reading

Virtual care platform, Akira Health, which offers a healthcare app, as well as in-person healthcare clinics, has been acquired by Telus Health. Terms of the deal were not disclosed.

Akira announced that the acquisition had been finalized in a letter to its customers on August 8. As part of the deal, Akira’s employees and its healthcare providers will officially join the “extended” Telus Health network. The transition is set to happen within the next few months.

“Our commitment to delivering an outstanding patient-first experience will be maintained in the future, as it aligns perfectly with Telus Health.”

The healthtech startup will continue to operate under the Akira brand, and there are no planned changes to its staff, business premises, or operations. Akira, which opened an in-person tech-enabled clinic in Toronto, in April, also stated that it will continue to operate its current clinical and office teams. Moving forward, Telus Health will collaborate with Akira and explore partnership opportunities that will bring mental health and diagnostics to Akira’s virtual care platform. The healthtech company also plans to continue developing its own products.

The acquisition will also give Akira customers access to Telus Health’s offerings, as well as products and solutions for insurers, employees, and employers that will be co-developed by Akira and Telus.

“Akira Health’s mission, strategy, and core philosophy are closely aligned with Telus’ and both companies remain committed to improving patient outcomes and experience,” Akira said in the letter to its customers. “Our commitment to delivering an outstanding patient-first experience will be maintained in the future, as it aligns perfectly with Telus Health’s own Customers First philosophy.”

About 13 years ago, Dr. Ralph DaCosta noticed something unusual — a fluorescent glowing red mass of bacteria — while looking at the insides of a lab rat in his microscope as a PhD student in Toronto.

The glowing bacteria wasn’t directly related to his research, but it planted the seed of an idea: what if it was possible to make bacteria visible to the naked eye?

Eventually he filed a patent, but it didn’t really go anywhere until 2014, when a Toronto-based venture capital firm wrote a cheque for $4 million to help him commercialize a handheld fluorescent imaging device.

It’s a three and a half trillion dollar industry, just in the U.S. alone

– Analyst Jeff Becker

Today, the MolecuLight is in the hands of doctors in North America and Europe, allowing them to see bacteria on human skin in real time, which allows for better treatment of chronic, infected wounds.

DaCosta’s device is an early Canadian success in a health technology field that had become one of the hottest spaces for startups — and one in which Canada is well-positioned to take advantage, even if access to the massive U.S. health care industry is the primary target for most investors.

Digital fundraising platform FlipGive has raised $5 million in a Series A to help accelerate its mission of changing the way North American youth sports teams raise money.

“We have only scratched the surface of what is possible in the world of team-sport and club fundraising.”

FlipGive offers an online platform that connects merchants to consumers through community fundraisers. Teams can raise money by receiving cash back through shopping at partnered online stores or certain in-store locations. The startup touts itself as having revolutionized the fundraising space for youth sports, member organizations, and clubs raising money.

The Series A was led by Toronto-based Framework Ventures Partners, the first investment of its new $100 million fund announced earlier this year. The round also saw participation from New York-based venture firm FJ Labs as well as iGan Partners. The capital will help FlipGive hire talent, develop enhanced product features, and bring on new brand partners, as well as support marketing and “member acquisition.”

Measuring the effectiveness of cancer treatments is a challenge among the healthcare community. New technology is now able to provide physicians with the resources to either improve or change the treatment plan in order to be most effective for the patient. Jeremy Bridge-Cook President and CEO, Rna Diagnostics talks to Anthony Lacavera about how these advancements are changing the way primary cancer treatments are managed.

Prostate cancer affects millions globally, and the cost associated with the diagnosis and treatment can be significant. Randy AuCoin President and CEO, Exact Imaging speaks to Anthony Lacavera about how new technology is allowing urologists to perform targeted biopsies.

iGan Partners is pleased to announce that it has successfully exited from its investment in Rhythm Xience. Acutus Medical of California, USA was the acquirer. Although the value of the transaction was not disclosed, it was a very successful investment for iGan Partners, who acted as the lead last round of financing.

Founded in 2014 and headquartered in Minnesota by Jim Hassett, Rhythm Xience is a rapidly growing medical device company specializing in catheter-based rhythm management solutions. As a developer and innovator, their solutions are clinically based and procedurally focused towards recognizing and resolving the challenges facing Electrophysiologists and healthcare facilities.

“We were very excited to take the lead in financing Rhythm Xience to enable it to get regulatory approval and launch its new innovative products. Although we were not expecting an exit in less than a year, we were pleasantly surprised. I will miss serving on the board with the other Directors from the US, Japan and Canada.” Said, Sam Ifergan, Founder and Managing Partner at iGan Partners.

BrainFx is catching what other brain health tests are missing. BrainFx Co-Founder and CEO Tracy Milnerexplains to Anthony Lacavera how her platform uses digital technology to help healthcare professionals see the effects of cognitive dysfunction earlier, allowing them to take preventative measures to ensure the better patient outcomes.

TORONTO, CANADA — Exact Imaging (www.exactimaging.com), the world’s leader in high resolution micro-ultrasound systems enabling real-time imaging and biopsy guidance for the prostate, announced that Bellingham Urology Group has acquired the ExactVu™ micro-ultrasound system for real-time targeted prostate biopsies. This is the first of its kind in Washington, Oregon, and Idaho.

“At Bellingham Urology Group, we are dedicated to providing the highest level of patient care, and investments in the newest imaging technologies to allow our physicians to achieve these outcomes is essential”, says Dr. Vernon Orton, one of Washington’s most experienced urologic robotic surgeons. “Our acquisition of this ExactVu high resolution micro-ultrasound system will allow our urologists to actually visualize suspicious regions with 300% the image resolution of conventional ultrasound systems, and then target their prostate biopsies in real-time. Bellingham Urology Group patients will benefit from this excellent new platform that will allow us to ultimately improve our biopsies with the end goal of allowing our physicians to more accurately diagnose significant prostate cancer.” Dr. Orton adds “The ExactVu micro-ultrasound system is a paradigm shift in real-time imaging striving to get even more accurate biopsies using the highest resolution modalities to enable the fastest, most detailed imaging of the prostate. With the system’s FusionVu™ feature, we can also align the patient’s prostate MRI with the live micro-ultrasound image to either perform Cognitive Assist™ or micro-ultrasound/MRI fusion-guided biopsies, all with the benefit of the 70-micron resolution of micro-ultrasound. This allows us to see lesions that were unseen with our older technologies.”

“We are thrilled to have Bellingham Urology Group as the first practice in Washington, Oregon, and Idaho to adopt our ExactVu micro-ultrasound platform,” says Randy AuCoin, Exact Imaging’s President and CEO. “The ExactVu micro-ultrasound system provides the highest real-time resolution for targeted prostate biopsies and through this progressive urology practice, patients in the Northwestern U.S. can now have access to micro-ultrasound for their prostate biopsies”.

The ExactVu customer base is growing globally as the urological community is recognizing the power of micro-ultrasound for providing excellent resolution for visualizing the prostate and providing real-time targeted guidance of prostate biopsies in a manner that is fast, cost-effective, and convenient for the patient.

About Exact Imaging

Exact Imaging (www.exactimaging.com) is the world’s leader in high-resolution micro-ultrasound systems enabling real-time imaging and guided biopsies in the urological market for prostate cancer. Exact Imaging’s ExactVu™ micro-ultrasound platform operates at 29 MHz and enables a whole new level of resolution with the benefits of ease of use, affordability, and is an extension of the current urological workflow. Using the Exact Imaging platform, urologists are able to visualize areas of interest in the prostate and specifically target biopsies at those areas. For those cases where MRI might assist, the FusionVu™ micro-US/MRI fusion application operates on the ExactVu micro-ultrasound platform and facilitates fast, simple MRI fusion-based targeting with the guidance of the micro-ultrasound system’s 70-micron real-time resolution. The ExactVu micro-ultrasound system including the FusionVu application have received regulatory approval in the European Union (CE Mark), the United States (FDA 510(k)) and Canada (Health Canada medical device license).